The market in Germany is closed now and it is time to see how the stock performed I recommended earlier this months: Lanxess.
The stock were able to increase the price from 56.45 Euro last Friday to 57.57 Euro this week. An increase of 1.98%. The correction we could see last week on Thursday and Friday did not continue and the paper went back on track. The stock is still in the upper area of the positive trend channel. A drop to the lower end as mentioned last week did not happened. All indicators still show a positive picture. Even the ADX, who was weak last week, changed his direction and is going to the north again. But with a value of 21 it is still a weak number after 17.5 middle of this week. The trend is not very strong.
The DAX, as expected, did not do very good. The index increased from 8305.22 last Friday to 8348.84 this week, an increase of 0.52%. Basically the index did what I expected: going back into the trend channel.
An interesting observation we could make on Monday. US and UK market were closed due to a bank holiday and the number of traded stocks on the DAX market was less then half of the normal business. That is an indicator how important meanwhile investors are from UK and US for the German market.
But bottom line Lanxess beat the DAX with 1.98% increase vs. 0.52%. I am still bullish for this stock and expect a further increase.
But as always: just my 5 cents.
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